Contribution Options: Set your own schedule

If you're a fan of flexibility, you'll appreciate the options available for contributing to your Heritage Plan RESP.

Contributing monthly: nice and easy

Contributing small amounts more often can be easier than making one large annual contribution.

And over time, investment earnings on those small amounts can compound and really add up. You can even set up pre-authorized payments, so you don't have to remember to make your contributions. Pretty soon, you won't notice them at all.

Contributing annually: working to your timetable

Some people prefer to make an annual contribution. It allows them to schedule it around their other major expenses such as insurance, property taxes and RRSP contributions. In fact, many people use their RRSP refund for their RESP contribution.

Other contribution options

Single Lump-Sum Contribution: as the name implies, a one-time payment.

Five-Year Annual Contribution: one contribution a year for 5 years, then you're done.

Five-Year Monthly Contribution: monthly contributions for just 5 years.

Ten-Year Annual Contribution: one contribution per year for 10 years.

Ten-Year Monthly Contribution: one contribution per month for 10 years.

Put your Child Care Benefit to good use

Since July 6, 2006, Canadian parents have been eligible to receive the Universal Child Care Benefit (UCCB) of $100 a month for every child under the age of 6 years.

If you do not currently receive the UCCB, you must first apply for the Canada Child Tax Benefit (CCTB). Call the Canada Revenue Agency at 1-800-959-2221 for an application or download the application from the Universal Child Care Benefit website.